NASDAQ: BNRG
Decarbonizing heat for industry and power plants with next-generation TES solutions
Pioneering the Future of Thermal Energy Storage
Brenmiller Energy (NASDAQ: BNRG) is driving the transition to zero-emission heat with its cutting-edge thermal energy storage (TES) solutions. The company operates a state-of-the-art TES gigafactory, capable of producing up to 4 GWh of its patented bGen™ thermal batteries annually—valued at up to $200 million. By offering a scalable, cost-effective alternative to fossil fuel boilers, Brenmiller is helping industrial and utility customers reduce energy costs and carbon emissions. With a $440 million global pipeline of commercial opportunities spanning 12 industries across 13 countries, its technology is proving to be a key enabler of industrial electrification and decarbonization worldwide.
Brenmiller is further expanding its market reach with the upcoming launch of its next-generation bGen™ thermal energy storage system for thermal oil heating, set for 2026. This revolutionary solution enables low-carbon heat at price parity with fossil fuels, addressing a critical industry need for decarbonization. With 8 projects already in the commercial pipeline—valued at approximately $170 million— and multiple deals in advanced negotiations, this expansion significantly increases Brenmiller’s total addressable market. The company has also strengthened its global presence through strategic partnerships, including the formation of Brenmiller Europe S.L. and collaborations with Entelios AG, Partner in Pet Food Hungaria, and TUTCO Heating Solutions. Positioned to capture a significant share of the $63 billion TES market, Brenmiller is leveraging its proven technology, regulatory tailwinds, and industrial demand to redefine how industries generate and consume heat.
Partnership with Rock Energy Storage Expands US Opportunities
Brenmiller is making significant inroads into the U.S. energy storage market through its exclusive distribution partnership with Rock Energy Storage (ROCK). Since June 2024, this collaboration has expanded its U.S. commercial pipeline from $150 million to over $210 million. The companies are actively pursuing state and federal grants for Long-Duration Energy Storage (LDES) projects, positioning bGen™ ZERO technology as a key solution for industrial, utility, and municipal energy needs. The growing interest in TES adoption reflects an industry-wide push for lower energy costs and reduced emissions, aligning with 80% growth in U.S. energy storage deployments between Q3 2023 and Q3 2024.
With strong regulatory tailwinds, increasing project commitments, and rising demand for industrial electrification, Brenmiller is well-positioned to scale its solutions globally, reinforcing its leadership in clean, cost-effective, and reliable energy storage.
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Company Portfolio
bGEN™ Zero Heat Battery
- Charges when power prices are lowest, stores the energy as heat, and can output heat or power as needed.
Commercial Projects
- PPF: Hungarian pet food manufacturer
- Heineken: Israeli beverage manufacturer
- Edith Wolfson: Israeli Medical Center
Pilot Programs
- New York Power Authority
- Enel Group
Awards & Recognition:
- European Commission – Seal of Excellence for Horizon 2020 Project
- BIRD Energy – Approval for U.S. Israel Clean Energy Project
- TIME Magazine – Best Inventions of 2023
- BloombergNEF – BNEF Pioneers 2024 Finalist
- European Investment Bank – Innovation Champion
Net-Zero is Now Possible.
Brenmiller Energy’s bGen™ ZERO technology is revolutionizing thermal energy storage (TES), providing industries with a sustainable, cost-efficient alternative to fossil fuel-based heating systems. Using crushed rocks as a storage medium, the bGen™ system absorbs energy from renewable sources or grid electricity, heating the material up to 650°C. This stored heat can then be discharged on demand, generating stable zero-carbon steam at temperatures of up to 530°C, ensuring reliable and efficient energy supply for industrial processes.
The modular design of the bGen™ system allows for customization to meet specific plant size, capacity, and operational requirements. It operates with high flexibility, capable of simultaneous charging and discharging, enabling 24/7 reliability for industries that require continuous heat. The system is built with identical prefabricated units, known as bCubes™, which are assembled on-site, insulated to minimize heat loss, and seamlessly integrated into existing infrastructure.
Technology:
Turning Rocks into
Heat Batteries
Zero Emissions
Unlimited Cycles for 30+ Years
Modular 10 MWH – 1000 MWH
Cost Effective Natural Materials
Process:
Rocks are crushed to small bits
Thin metal cells ("bCells") are filled with the crushed rocks
bCells are stacked into 12 meter modules
Modules are assembled on-site to a structure
Electrical heaters are embedded
Structure is insulated and connected to plant
Versatile Applications:
The system efficiently captures and reuses low-value or waste heat, directing it to TES modules where it is stored for extended periods with minimal energy loss—less than 0.1% per hour. The stored heat is then released as steam or hot air at a stable temperature and pressure, improving efficiency and reducing waste.
The electrification of heat for zero-carbon steam leverages intermittent renewable energy sources to deliver stable and reliable heat. This technology capitalizes on off-peak energy prices for charging, making it cost-efficient. It also offers grid services, creating opportunities for additional revenue streams while supporting a more sustainable and economically viable energy infrastructure.
World’s Largest TES Factory
4 GWh annual production capacity
A European Investment Bank credit facility is funding capital expenditure for an automated bGen factory and an increased production capacity. The Plant is designed to produce bGen modules with an annual capacity of up to 4,000 MWh, and potential sales of up to $200 million per year.
The factory is planned according to industry 4.0 standards, and is expected to help the company meet future demand and increase profitability.
Business Models & Opportunity
Equipment Sale
Brenmiller provides comprehensive thermal energy storage solutions to industrial facilities and power plants, offering complete turn-key projects that streamline installation and integration. In addition to delivering robust, high-performance equipment, the company ensures long-term value through after-sale services that include warranty coverage, maintenance, and system optimization. This model generates revenue through direct sales while establishing enduring client partnerships built on reliable support and improved operational efficiency.
- Turn-Key Thermal Storage Solutions – Complete system delivery, including installation, integration, and commissioning.
- Long-Term Reliability & Support – Ongoing maintenance, warranty, and optimization services to maximize efficiency.
- Direct Equipment Sales – One-time capital investment with a focus on energy cost savings and sustainability.
Energy-as-a-Service (EaaS)
Under its Energy-as-a-Service model, Brenmiller collaborates with leading global clean energy utilities to supply clean steam and essential grid services. This approach allows clients to reduce energy costs and carbon emissions without upfront capital expenditure, as Brenmiller assumes responsibility for financing, building, and maintaining the systems. Revenue streams come from selling steam, providing grid services and capacity, and strategically purchasing energy at day-ahead market prices—ensuring that customers benefit from minimized risk, Green certificates, and long-term operational savings.
- No Upfront Investment – Brenmiller finances, builds, and maintains thermal energy storage systems for seamless adoption.
- Flexible Revenue Streams – Earns from steam sales, grid services, and capacity payments, ensuring cost efficiency.
- Smart Energy Management – Optimizes energy costs by purchasing power at day-ahead market prices.
Case Study: Partner in Pet Food Hungaria
Customer Profile
- European private-label pet food producer supplying 35+ countries.
- 12 production facilities producing 700,000+ tons of pet food annually.
- Operations in Hungary, Netherlands, Slovakia, Czech Republic, and Poland.
Brenmiller Solution
- Replaces fossil fuel boilers to cut costs and emissions.
- 12-year Heat as a Service (HaaS) agreement.
- Electricity charging at wholesale prices, combined with payments from grid operators for grid balancing.
- 30 MWh bGen ZERO system at PPF’s Hungary plant.
- Low-cost, low-carbon steam at a fixed rate.
Project Details:
Location: Dombovar, Hungary.
Duration: 12 years.
Cost: ~$5 million.
Drivers:
42% emissions reduction target by 2030
High energy costs and reliance on fossil fuel boilers
Need for sustainable energy and grid stability
Savings:
Annual Energy Cost Savings: $1.9M
Annual CO2 Abatement: 1.4 MT
Commercial Terms:
Annual Project Cash Flow: $0.7M
Base pIRR: 10%+
Investment Cost: $4.6M
Expansion Potential: 11 factories (1.2 GWh)
Key Investment Highlights:
50%+ difference between peak and off-peak electricity costs, driven by renewable energy adoption
$155B opportunity for the Electrothermal Energy Storage (ETES) market in Europe and the U.S. equivalent to (3,100 TWh)*
ETES (Heat Batteries) fill the gap, solving the variability between renewable energy supply and industrial heat demand; 25% of global energy demand.
BNRG is already generating revenue – and it’s well-positioned to grow with future projects.
BNRG aims to lead the ETES market, with over 100 MWh of capacity built or in progress.
Monetization & Growth in 2025
Q1 2025: Sign financing agreement for Wolfson and Tempo, financial lease to the Baran Group, approximately (80% of future income): ~$2.5M
Q1 2025: Reach Tempo collection milestone (~$0.64M)
Q1 2025: Recognize revenue from Enel project ($0.4M)
Future Goals:
Q1 2025: Sign Spanish project ($1.3M)
Q2 2025: Sign additional agreement through Spanish partnership ($2.5M)
Q3 2025: Sign contract with industrial client in Eastern Europe ($5M)
Q4 2025: Sign contract with an industrial company in Europe (>$10M)
Q4 2025: Sign term sheet for first US commercial project
Q4 2025: Achieve commercial close for the Hungarian project
Media Coverage
Brenmiller (NASDAQ: BNRG) has been featured in prominent publications including:
Additional Disclaimers and Disclosures:
This is sponsored content. Hawk Point Media Group, LLC. (HPM) has been compensated, or expects to be, to produce and distribute digital content for Brenmiller Energy Ltd. It should be expressly understood that HPM is not operated by a licensed broker, a dealer, or a registered investment adviser. It should also be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. HPM reports/releases are commercial advertisements and are for general information purposes ONLY. The information made available by HPM is not intended to be, nor does it constitute, investment advice or recommendations. The contributors do NOT buy and sell securities covered before or after any particular article, report and/or publication. HPM holds ZERO shares and has never owned stock in Brenmiller Energy Ltd. While HPM does not own or market shares, it is prudent to expect that those hiring HPM including that company’s owners, employees, and affiliates, may sell some or even all of the Brenmiller Energy Ltd. shares that they own, if any, during and/or after this engagement period. Always do your own due diligence prior to investing in any publicly traded company.
Forward-Looking Statements:
This article contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements contained or implied in this articcle are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2023 filed with the SEC on March 18, 2024, which is available on the SEC’s website, www.sec.gov. Hawk Point Media Group, Llc. undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. For Hawk Point Media Group Llc’s full disclaimer and disclosure statement, click HERE.